Insulet Co. (NASDAQ:PODD) Position Reduced by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lessened its position in shares of Insulet Co. (NASDAQ:PODD) by 57.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,800 shares of the medical instruments supplier’s stock after selling 13,200 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Insulet were worth $2,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PODD. Baillie Gifford & Co. bought a new position in shares of Insulet in the 4th quarter worth about $263,144,000. William Blair Investment Management LLC boosted its stake in Insulet by 145.1% in the third quarter. William Blair Investment Management LLC now owns 732,923 shares of the medical instruments supplier’s stock valued at $116,894,000 after acquiring an additional 433,884 shares during the period. Northern Trust Corp grew its holdings in shares of Insulet by 7.6% during the third quarter. Northern Trust Corp now owns 681,731 shares of the medical instruments supplier’s stock valued at $108,729,000 after purchasing an additional 47,938 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of Insulet by 62.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 637,261 shares of the medical instruments supplier’s stock worth $101,637,000 after purchasing an additional 244,922 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Insulet by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 407,592 shares of the medical instruments supplier’s stock valued at $88,439,000 after purchasing an additional 22,247 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PODD shares. Barclays dropped their target price on Insulet from $214.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Stifel Nicolaus lifted their price objective on shares of Insulet from $163.00 to $208.00 and gave the company a “hold” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. upped their target price on shares of Insulet from $190.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Piper Sandler cut their price target on Insulet from $250.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Finally, Wolfe Research raised Insulet from a “peer perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Tuesday. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $240.33.

Insider Activity

In other Insulet news, Director Shacey Petrovic sold 11,609 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $162.92, for a total transaction of $1,891,338.28. Following the completion of the sale, the director now directly owns 2,567 shares in the company, valued at approximately $418,215.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by company insiders.

Insulet Price Performance

NASDAQ:PODD traded up $1.96 during mid-day trading on Thursday, reaching $177.53. 1,732,097 shares of the stock were exchanged, compared to its average volume of 861,623. Insulet Co. has a 1-year low of $125.82 and a 1-year high of $331.65. The company has a current ratio of 3.51, a quick ratio of 2.62 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $12.43 billion, a PE ratio of 60.33, a PEG ratio of 3.14 and a beta of 1.00. The business has a fifty day moving average price of $170.32 and a 200 day moving average price of $181.66.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, February 22nd. The medical instruments supplier reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.73. The business had revenue of $509.80 million for the quarter, compared to the consensus estimate of $461.26 million. Insulet had a net margin of 12.16% and a return on equity of 32.19%. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. Research analysts expect that Insulet Co. will post 3.08 earnings per share for the current fiscal year.

About Insulet

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.